SATHISH KUMAR Vs. STATE OF KARNATAKA

JUDGEMENT

(1.) This criminal petition is filed under Sec. 482 of Cr.P.C praying to quash the charge sheet filed by respondent No.1 against the petitioner in C.C.No.8574/2023 (Cr.No.331/2019) for the offences punishable under Ss. 384, 420 and 506 of IPC; Sec. 38 of the Karnataka Money Lenders Act, 1961 (for short the Act of 1961 ) and Sec. 3 of the Karnataka Prohibition of Charging Exorbitant Interest Act, 2004 (for short the Act of 2004 ).

(2.) Heard the learned counsel appearing for the petitioner and learned High Court Government Pleader appearing for the respondent No.1-State. Respondent No.2 is served but unrepresented.

(3.) The factual matrix of the case of the complainant/respondent No.2 in the complaint dtd. 27/11/2019 that herself and her husband were running a business of manufacture of labels. One Mr. Santhosh introduced financier Mr.Sathish Kumar as they required liquid cash and they borrowed an amount of Rs.98,500.00 on 1/10/2015 with interest at the rate of 5% per week. For this, the said Sathish took the cheques of them belongs to Andhra Bank and Bank of India and they were paying interest at the rate of 5% i.e., Rs.4,925.00 per week. As the business was growing, the said Sathish was offering them money whenever needed from 1/10/2015 to 14/1/2019. In this duration, he gave an amount of Rs.65,36,000.00 for which, he used to charge 5% interest per week and when the payment was not made, he was adding interest to the principle amount and was charging interest and penalty. The transaction was ended up paying with an amount of Rs.1,74,23,706.00 to his personal account and to his C-tract account located in Basavanagudi branch. There was a money laundering case which was registered on 2/8/2018 in Baiyappanahalli police station against the petitioner-Sathish Kumar.